Bank Appeal Provides Test Case On Secrecy And Terrorism Finance

A Palestinian woman is reflected in the glass of a money changer’s shop in Gaza City, Gaza strip.

Arab Bank PLC, a Jordan-based financial institution, filed a legal appeal citing local bank secrecy laws to block sanctions against it for refusing to disclose documents sought by families of American and Israeli victims of Palestinian suicide bombers that accuse the bank of acting as a conduit for money from Saudi donors to pay the families of the suicide bombers. The bank denies being used in such a manner, and the case could ripple through the international banking world.

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